Average rents on the new residential segment in Bucharest dropped by 6% in semester I of the year, compared to the same period of 2020, according to an analysis made by the real estate consulting company SVN Romania, according to which the residential market resisted very well to the shock produced by the pandemic, while the rental sector was strongly affected. The present occupation degree of those a;apartments is 90%, over 9,700 units being rented by tenants for medium- long term, that is for at least 6 months. On the overall, over 55,000 lodgings were have been completed since 2018 to the present day, according to INS statistics and SVN Romania estimates. Over 5,500 lodgings have been purchased by investors, representing 10% of total sales. Of them, about 45% were resold , the rest being offered for rental in order to obtain a long term profit. On the average, rents for the new residential segment in Bucharest dropped by 6% in semester 1, 2021 compared to the same period of 2020. For the next 12 months, a linear evolution is estimated taking into account both results recorded by local economy and the immunization degree and the return of employees to office buildings, since the beginning of the academic year. On the average, a new two room apartment located in Bucharest is rented for 250-350 euros for the mass market segment, with 450-600 euros for the middle market segment, a new three room apartment is rented for values between 600 and 900 euros while a villa can be rented for 750 euros on the average.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
